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JAPAN: Mitsubishi Gas quitting PTA business

Mitsubishi currently operates a 260,000-t/y PTA plant at Mizushima, Japan, through its Mizushima Aroma joint venture with Toyobo Co.A spokesperson at Mitsubishi, when asked for the reason behind its decision to quit the PTA business, said "we cannot anticipate improvement of the profit without global oversupply." The company is "now examining" when to exit the business, he added.